Try GOLD - Free
Helens warns of losses as PC Partner posts buoyant profit
The Straits Times
|March 20, 2025
Two Hong Kong-listed firms with secondary listings on the Singapore Exchange (SGX) have had contrasting fortunes in 2024, with one warning of losses for the year and the other reporting a 4.3-time surge in earnings over the same period.
China bar operator Helens International Holdings on March 19 warned that it is expecting revenue to decline to between 730 million yuan (S$135 million) and 780 million yuan in 2024, down from 1.2 billion yuan in 2023. It cited weak consumer demand and the impact amid China's property downturn.
Helens International, which also operates three Helen's Bar outlets here in Orchard Central, Clarke Quay and Chijmes, added that it anticipates a net loss of 60 million yuan to 90 million yuan in 2024, compared with a net profit of 180.5 million yuan in 2023.
It attributed the losses to impairments as a result of a drop in the fair value of office properties amid China's property downturn, network optimisation costs under a new business strategy, and expenses related to its secondary listing on SGX in July 2024.
This story is from the March 20, 2025 edition of The Straits Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Straits Times
The Straits Times
Amorim sacked after fiery outburst at United's board
LONDON - English Premier League giants Manchester United have fired their manager Ruben Amorim, the club announced on Jan 5.
3 mins
January 06, 2026
The Straits Times
Former DPM Heng leaves MAS board after two decades
Former deputy prime minister Heng Swee Keat has relinquished his position as a member of the Monetary Authority of Singapore (MAS) board of directors, the authority announced on Jan 5.
1 min
January 06, 2026
The Straits Times
Venezuela action displays US militarys ‘most fearsome’ might
Key to success was not only accurate intelligence, but also flawless preparation
4 mins
January 06, 2026
The Straits Times
How are Singapore youth hashing out their career aspirations?
In a world of greater flux, they don’t let rigid plans get in the way of seizing opportunities
9 mins
January 06, 2026
The Straits Times
Oil prices unlikely to be hit in the near term
The removal of Venezuelan President Nicolas Maduro by the United States in a stunning military operation is unlikely to have meaningful near-term impact on global crude oil prices, analysts said.
4 mins
January 06, 2026
The Straits Times
Circumbendibus shooting for third straight win
Jan 7 South Africa (Greyville) preview
3 mins
January 06, 2026
The Straits Times
It was not an invasion, not illegal, not about oil: US defends capture of Venezuela’s Maduro
AUSTIN The Trump administration launched a forceful defence of its Venezuela operations a day after facing worldwide condemnation for whisking away the country’s President Nicolas Maduro to face a trial on “narco-terrorism” charges in New York.
5 mins
January 06, 2026
The Straits Times
MOE will continue efforts to ease teachers' workload: Minister
The workload of teachers will remain a key focus in the new year, as the Ministry of Education (MOE) continues efforts to rethink teachers’ duties and work processes.
4 mins
January 06, 2026
The Straits Times
Time to shut down the Singapore Biennale?
The event feels haphazard, disconnected from the community, and inaccessible to even determined artsgoers.
6 mins
January 06, 2026
The Straits Times
Lee Lung Kei breaks up with fiancee after learning she is married with a son
The “grandpa-granddaughter” romance between Hong Kong actor Lee Lung Kei, 75, and a woman 36 years his junior is over.
1 mins
January 06, 2026
Listen
Translate
Change font size